applied too strongly

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edumaker

Senior Member
Korean
Hi, there! I have a question about the below underlined sentence. What does the implied meaning of the underlined sentence?
(Effect: This hypothesis is sometimes applied too strongly. Cause: Not only because an individual does not always have the necessary information to make a good choice????)

Thanks, in advance!

The teaching of economics is usually based on the theory of rational choice. To describe the behavior of an individual, economists start by describing his or her objectives. Whether the individual is selfish or altruistic, seeking profit or social recognition, or has some other ambition, in every case he or she is assumed to act as far as possible in his or her own interest. This hypothesis is sometimes applied too strongly, and not only because an individual does not always have the necessary information to make a good choice. As the victim of cognitive biases, this agent is also likely to make a mistake when evaluating the best way to attain an objective.
Economics for the Common Good
 
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  • reno33

    Senior Member
    English - USA
    What does the implied meaning of the underlined sentence?
    I don't think the underlined sentence has an "implied" meaning. It is quite clear what it means. There's nothing complicated that has to be figured out. It literally means what it says.

    As you suggested, it means the hypothesis is sometimes applied too strongly (taken too literally, too exactly) because an individual does not always have the necessary information to make a good choice and because the individual, due to cognitive biases he may have, "is also likely to make a mistake when evaluating the best way to attain an objective."

    Bottom line: Economic theories based on rational choices are often incomplete statements of how humans actually act because humans may lack essential information and they may have biases that propel them into picking irrational choices.
     

    edumaker

    Senior Member
    Korean
    I don't think the underlined sentence has an "implied" meaning. It is quite clear what it means. There's nothing complicated that has to be figured out. It literally means what it says.

    As you suggested, it means the hypothesis is sometimes applied too strongly (taken too literally, too exactly) because an individual does not always have the necessary information to make a good choice and because the individual, due to cognitive biases he may have, "is also likely to make a mistake when evaluating the best way to attain an objective."

    Bottom line: Economic theories based on rational choices are often incomplete statements of how humans actually act because humans may lack essential information and they may have biases that propel them into picking irrational choices.
    Thank you very much, reno33!! Have a good day!:thumbsup::thumbsup::thumbsup:
     
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